https://www.taxtmi.com/caselaws?id=279028 The Tribunal allowed the appeal for statistical purposes, emphasizing procedural fairness, natural justice principles, and the importance of proper verification and hearing in tax assessment proceedings. The order under Section 263 was set aside due to lack of opportunity for the assessee to be heard, necessitating a fresh adjudication. Verification of share capital and premium was directed with the requirement for the assessee to present its case. The delay in filing the appeal was condoned, highlighting the necessity of sufficient cause for such condonation as per statutory provisions. en-us Mon, 27 Nov 2017 00:00:00 +0530 Fri, 01 Mar 2019 07:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279028 The Tribunal allowed the appeal for statistical purposes, emphasizing procedural fairness, natural justice principles, and the importance of proper verification and hearing in tax assessment proceedings. The order under Section 263 was set aside due to lack of opportunity for the assessee to be heard, necessitating a fresh adjudication. Verification of share capital and premium was directed with the requirement for the assessee to present its case. The delay in filing the appeal was condoned, highlighting the necessity of sufficient cause for such condonation as per statutory provisions. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279028